Suryaa Business Desk: Indian stock markets are positive in the wake of the US Federal Reserve's decision to keep interest rates unchanged... Indian stock markets are set to start trading on a positive note following the US Federal Reserve's decision to keep interest rates unchanged. Trading sources expect the domestic equity markets to open on a positive note with the GIFT Nifty index posting gains. However, analysts say that crude oil prices in the international markets are continuing to remain at higher levels and inflationary challenges are weighing on investors to some extent.
Uncertainty in global financial markets seems to have been removed as the US central bank did not make any changes in interest rates. However, investors are taking tentative steps on what the future pattern of monetary policy will be. With the quarterly financial results of various corporate companies coming out in the domestic markets, the focus of investors is on the shares of major sectors. In particular, international developments and investment patterns of foreign institutional investors play a vital role in dictating the course of the market.
Experts predict that the Nifty and Sensex indices are likely to move in a narrow range amid rising crude oil prices and geopolitical conditions. Technical analysis suggests observing market movements at key support and resistance levels. Indices are likely to witness steady growth, supported by corporate results announcements and buying in automobile, IT and banking sectors.